It's everyone's least favorite time of year -- tax time -- and for entrepreneurs that frequently means filling out two returns and navigating even more tax-code complexities. Lucky for you, SmartBrief is here to help with this special report containing this year's best articles and blog posts on taxes for startups. We hope you find the report valuable and share it with your team and fellow entrepreneurs.

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Tax Tips

The tax benefit of posting a net lossNew and small-business owners often post a net operating loss, but a loss can "be one of your best friends" at tax time, says Mark Kohler, author and CPA. The key is to carefully track expenses to maximize the tax deduction. Entrepreneur online
(3/14)

Could telecommuting affect your company's tax liability?Telecommuting can provide benefits in terms of morale and productivity, but a court case reveals that it could also create some unexpected tax liabilities. A court has ruled that a Maryland-based company called Telebright has to pay taxes in New Jersey because one of its workers telecommutes from the state. CBS MoneyWatch
(3/27)

4 tax breaks small-business owners should know aboutWith the deadline to file taxes fast approaching, there's still time to make sure you're claiming all of the tax breaks for which you are eligible. Your company might qualify for the new-hire retention credit, the small-business health care tax credit or the research and development credit, writes Gwen Moran. Entrepreneur online
(3/22)

Making sense of the 1099-K tax formSmall-business owners subject to filing 1099-K forms need to understand the rules that cover the form, writes Bonnie Lee, owner of Taxpertise in Sonoma, Calif. Starting this year, all businesses need to separate sales from the 1099-K, used for debit and credit transactions, from payments received in cash or check. Fox Business Small Business Center
(3/23)

The tax advantages of offering fringe benefitsTax breaks are available for many fringe benefits, including health insurance, writes Bonnie Lee. "The premiums owners pay on behalf of employees are tax free to them and a deduction for the business," she notes. Companies can also deduct the cost of benefits such as life insurance and commuting benefits, she writes. Fox Business Small Business Center
(3/13)

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Tax Tools

Tax e-filing made simpleChoose your software, keep your financial documents nearby, and be sure you get an acknowledgment from the IRS: These are basic steps in filing taxes electronically before the deadline. Another tip from technology writer Dave Johnson: Be wary of upsells from the software-maker if you choose to run an error check on your return before filing. Many such checks are tied to upgrades you must purchase. CBS MoneyWatch
(3/26)

Tax-time troubles? Keep your CPA informedTwo of the top mistakes small-business owners make at tax time are not talking to an accountant throughout the year and not understanding their own financials, according to a survey of accountants by Xero, a small-business accounting software developer. Accountants listed several other pitfalls for small businesses, including combining personal and business deductions and forgetting to deduct for a home office. BusinessNewsDaily.com
(3/15)

A tool to help simplify your taxesThe Business Gold Rewards Card makes it easy to keep track of your business spending while providing a suite of services and benefits. Use our online tools and tips to help organize your records, identify possible tax deductions, and prepare you for tax season. Learn more.

Avoiding an Audit

Red flags that could get you audited by the IRSThe IRS may be more likely to audit you if your income seems abnormally high or low, if you have claimed many deductions or if there are disparities between your state and federal tax returns, writes J.D. Roth. You can help to protect yourself by being honest and using tax software or getting professional help. "But even if you have a pro prepare your return, review it for obvious errors, because nobody cares more about your money than you do," he writes. Entrepreneur online
(3/15)

How to cut your chances of being auditedYou can help to keep the IRS off your back by making sure that your return doesn't include any expenses that seem abnormally high, writes accountant Mark Kohler. Also, be sure to file all of your tax returns and to respond quickly to IRS requests, he writes. Entrepreneur online
(3/22)

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